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. >> wall street they side with president obama when it comes to control of the debt ceiling. john boehner says it won't happen. >> i made it clear to the president every time we get to debt limit we need to cut reforms greater than increase in debt limit. only way the political process to produce more change than what it would if left alone. >> brenda buttner joins us. why would anyone want to give one machine power over this. >> the reason that wall street does it, wing thing it hates is uncertainty. if you remember when the talks went on and fell apart there was a downgrade, threat of default. wall street was up. and down. they want to know that someone can raise the debt limit without a prolonged battle. the battles in congress do affect wall street. >> some would say this means, bring it on in. add more. pile it up more. there would be no control. >> yes. boehner actually said in the last sound bite something important. the only leverage republicans have with the president they have control over raising that debt limit. especially what the president would like to do is sa
. >> wall street they side with president obama when it comes to control of the debt ceiling. john boehner says it won't happen. >> i made it clear to the president every time we get to debt limit we need to cut reforms greater than increase in debt limit. only way the political process to produce more change than what it would if left alone. >> brenda buttner joins us. why would anyone want to give one machine power over this. >> the reason that wall street does it,...
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Nov 29, 2012
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that is tying the debt ceiling limit to this entire deal. and the white house reacting. >> there is a lot of things i wanted in my life, but almost all of them had a price tag attached to them. if we talk about the debt limit, there will be a price tag associated with it. >> asking for political price be paid, in order for congress to do its job to ensure that the united states of america pays its bills an does not default for the first time in its history is irresponsible. >> that is the leverage. that is why if the republicans in the final hour of the fiscal cliff negotiations say fine, you can have this much re-knew from the cap and deduction and closing loopholes we will budge on the rate. 37.5%. that is not must have none. if it is not tied to debt ceiling increase that would only pass with the aggressive medicare reform they have to have a separate debt ceiling fight in member. where do they find the math for that? republicans won't vote for anything without commensurate spending cut. >> bret: i know i will do this 100 more times. over
that is tying the debt ceiling limit to this entire deal. and the white house reacting. >> there is a lot of things i wanted in my life, but almost all of them had a price tag attached to them. if we talk about the debt limit, there will be a price tag associated with it. >> asking for political price be paid, in order for congress to do its job to ensure that the united states of america pays its bills an does not default for the first time in its history is irresponsible. >>...
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>> dana: president obama made it more so. he took out private lending last year. we have kids that want college experience. the big college experience. they finished. they can't find jobs. unemployment rate is 40% area. they can't find jobs and they can't pay back the student loans. when it's all to this point and so bad, the government usually will come in and bail everybody out. so then you have no incentive to pay it anyway. >> eric: they said the pel program will go i away or be trashed. we found out today the pel program, obama is bringing it back. 18 semesters now down to 12. he is cutting the program. >> andrea: are you surprised? >> eric: no. the other thing about the student debacle is the universities are taking advantage. we have not learned anything from fre freddie and fannie but the universities have. if they have a government to say we'll make the cheap credit readily available you don't to pay back, what are they doing? they will hike up our tuition every year. the history of bubbles is an entry call course, i
>> dana: president obama made it more so. he took out private lending last year. we have kids that want college experience. the big college experience. they finished. they can't find jobs. unemployment rate is 40% area. they can't find jobs and they can't pay back the student loans. when it's all to this point and so bad, the government usually will come in and bail everybody out. so then you have no incentive to pay it anyway. >> eric: they said the pel program will go i away or be...
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obama has said, my way or the highway. his proposal, his budget plan that nobody voted for last year. >> yes and he's asking for more revenue on the debt ceiling he's saying abolish congress' authority to borrow. i want the authority to be in the white house for -- >> sean: obama not leading again. >> it is a giant problem. i am surprised he is out there treating this like a campaign. he's giving speeches and going to campaign events in toy stores and so forth. i'm not sure that solves the problem. >> sean: were you so clear in this book that he blew an opportunity. you are right, he's out campaigning. the problems exist. he's put -- doubled the amount of taxes he wants in terms of -- [ talking over each other ] >> i agree. >> sean: and he wants a blank cheque. where is the criticism of him? i believe you are sincere. where is your criticism that he needs to jump in and lead? >> he does. god knows let's hope he does. because in -- i mean the democrats are living on a fantasy here also. i talked to some of them, they say if
obama has said, my way or the highway. his proposal, his budget plan that nobody voted for last year. >> yes and he's asking for more revenue on the debt ceiling he's saying abolish congress' authority to borrow. i want the authority to be in the white house for -- >> sean: obama not leading again. >> it is a giant problem. i am surprised he is out there treating this like a campaign. he's giving speeches and going to campaign events in toy stores and so forth. i'm not sure...
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if you take president obama's tax increases, $82 billion a year. that doesn't even run -- that barely runs the post office for a year, much less the federal government. so there's not enough money there. you have to deal with into it with elements if you ever want to get this under control. simon keeps saying that the democrats are not intransgem. this is a letter signed by 33 senate democrats saying no changes to social security at all, ever, under any deal. megyn: even future. >> future. and year-end future. the democrats are absolutely intransigent on entitlements, this is what they're secretly saying to their supporters, and that's why they're going to go off the cliff. megyn: simon raises points about the president's budget and proposed spending cuts, but we have not had a budget out of the democrat-controlled senate in more than three years now. he wasn't able to get a vote -- >> i bet the democrats vote that one down too, like the last one. megyn: we'll see what happens. we're only in december. thanks, guys. >> thanks, megyn. megyn: coming u
if you take president obama's tax increases, $82 billion a year. that doesn't even run -- that barely runs the post office for a year, much less the federal government. so there's not enough money there. you have to deal with into it with elements if you ever want to get this under control. simon keeps saying that the democrats are not intransgem. this is a letter signed by 33 senate democrats saying no changes to social security at all, ever, under any deal. megyn: even future. >>...
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obama own the debt crisis he has done so much to create. conservative commentator bill crystal says they're making a dangerous gamble. >> republicans are at risk in my view now of looking like they're defending, keeping the current tax rates for the wealthy. end of the day president obama is selling a simple message, i want to keep taxes low for middle-class americans and republicans look like -- i'm worried are in the position offiof ing -- looking as fe the don't care about middle class. >> joining us is the sage of capitol hill, boat shoe enthusiast and celebrity doppelganger, nbc's luke russert. >> good day. happy monday. >> thank you, luke. it's an exciting time on capitol hill my friend. i want to focus first on the gop. is the party coming together, coalescing around something, anything, relating to the fiscal cliff? >> well, i think they're coalescing around anything it's for speaker boehner to continue the negotiations and not give a single inch. the gop has done very well over the last few years is in the negotiations with preside
obama own the debt crisis he has done so much to create. conservative commentator bill crystal says they're making a dangerous gamble. >> republicans are at risk in my view now of looking like they're defending, keeping the current tax rates for the wealthy. end of the day president obama is selling a simple message, i want to keep taxes low for middle-class americans and republicans look like -- i'm worried are in the position offiof ing -- looking as fe the don't care about middle...
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president obama released his plan. it includes 1.6 trillion dollars in new tax increases. 50 billion in new stimulus spending. and stimulus, and new power to raise the debt ceiling without congressional approval. tim geithner, john boehner appearing with chris wallace on fox news sunday. >> we're nowhere, period. we're nowhere. we put a serious offer on the table by putting revenues up there to get this question resolved but the white house has responded with virtually nothing. they have actually asked for more revenue than they have been asking the whole entire time. >> in kind of a tough position now. it is going to be, obviously a little hard for them now. they're trying to figure out where they go next. we might need to give them a little more time to let them go next. we did what you expect from us. we laid out a very detailed, carefully designed set of spending savings and tax changes that help put us back on a path to fiscal responsibility. bill: where are we now? senior white house foreign affairs correspondent
president obama released his plan. it includes 1.6 trillion dollars in new tax increases. 50 billion in new stimulus spending. and stimulus, and new power to raise the debt ceiling without congressional approval. tim geithner, john boehner appearing with chris wallace on fox news sunday. >> we're nowhere, period. we're nowhere. we put a serious offer on the table by putting revenues up there to get this question resolved but the white house has responded with virtually nothing. they have...
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president obama remarkably consistent in his intent to raise taxes on the top 2% of taxpayers. half of those are small-business men and women. the entire election season, he did say a number of times since being reelected, and he's not backing off. e president and his baath insist on higher taxes for the so-called wealthy. remarkably, republicans seem surprised by secrery geithner. chief correspondent ed henry with our repor reporter: optimism faded as timothy geithner let the republicans to decle the talks are going nowhere. >> i'm disappointed. i'm disappnted in where we are and what has happened over the last couple of weeks. i'm hehere trying to seriously resolve it. and i would hope the white house would get it as well. reporter: a key driver is that the president announced that spending cuts can wait. >> it would give us more time the next year to work together on a comprehensive plan to bring down the deficit. jay carney broke new ground by declaring that the president does on spending cuts within the budget plan to be included in the fiscal cliff talks. >> can you also
president obama remarkably consistent in his intent to raise taxes on the top 2% of taxpayers. half of those are small-business men and women. the entire election season, he did say a number of times since being reelected, and he's not backing off. e president and his baath insist on higher taxes for the so-called wealthy. remarkably, republicans seem surprised by secrery geithner. chief correspondent ed henry with our repor reporter: optimism faded as timothy geithner let the republicans to...
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obama is looking -- is taking a page out of their book. the two things he wants to do is number one, you mentioned before. no congressional approval of a debt ceiling, and second, and they're going to do this one, it looks like, unless some rational democratic senators come to their aid which is change the rules of the senate to make 51 votes all that is necessary to pass a bill in the united states senate. it will eliminate by and large the filibuster. >> every majority wants to do that. >> they're the only ones that will do it. they're threatening to do that. in fact, they're scheduled to vote to do that, to the rules in a way that's never been done before. it's been threatened before, but nobody's ever pulled the trigger on it. it looks like they're willing to pull the trigger to get what they want which is a majority rule to be able to force things down the throats of the american people that they don't want. >> if he gets his revenue but makes no structural change in the way we do business, i mean, if there's no effort to do that but
obama is looking -- is taking a page out of their book. the two things he wants to do is number one, you mentioned before. no congressional approval of a debt ceiling, and second, and they're going to do this one, it looks like, unless some rational democratic senators come to their aid which is change the rules of the senate to make 51 votes all that is necessary to pass a bill in the united states senate. it will eliminate by and large the filibuster. >> every majority wants to do that....
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the president obama would like to ask for a blank check to add as much to the national debt as president obama sees fit. in the meantime, we are expecting to hear from nancy pelosi. each side is speaking out every night and every day. moments ago, speaker of the house john boehner said this. >> the white house spent three weeks trying to develop a proposal. they call for $1.6 trillion in new taxes. calling for not even $400 billion in cuts, and they want to have this extra spending that is actually greater than the amount that we would cut. i mean, it is not a serious proposal. so right now we are almost nowhere. megyn: alan colmes and lars larson are with us now. let's just focus on this debt ceiling. the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just i
the president obama would like to ask for a blank check to add as much to the national debt as president obama sees fit. in the meantime, we are expecting to hear from nancy pelosi. each side is speaking out every night and every day. moments ago, speaker of the house john boehner said this. >> the white house spent three weeks trying to develop a proposal. they call for $1.6 trillion in new taxes. calling for not even $400 billion in cuts, and they want to have this extra spending that...
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the obama administration says the ball is in the g.o.p.'s court. republicans insist it's the president's turn to get serious about dealing with our country's debt. >> it's unfortunate that the white house spent three weeks doing basically nothing. >> this is a very carefully designed set of reforms. if republicans would like to go beyond these reforms, or they want to do it differently, they should tell us how they want to do it. >> i believe raising tax rates hurts our economy, hurts the prospects for more jobs in our country. >> shannon: as the sparring continues over the fiscal cliff, neither boehner nor geithner can say for certain that the country will not go over the edge. i'm shannon bream. america's news headquarters live from the nation's capital starts right now. >> shannon: we want to get to the budget standoff. peter doocy joins us live. there is time to strike a deal but not a lot. >> reporter: that's right. the speaker of the house john boehner made a point today to say there is not much time between election day and the end of the ye
the obama administration says the ball is in the g.o.p.'s court. republicans insist it's the president's turn to get serious about dealing with our country's debt. >> it's unfortunate that the white house spent three weeks doing basically nothing. >> this is a very carefully designed set of reforms. if republicans would like to go beyond these reforms, or they want to do it differently, they should tell us how they want to do it. >> i believe raising tax rates hurts our...
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obama under the white house proposal. the president would have the power to raise the debt limit on his own, whenever he wants, as needed. speaker boehner saying congress isn't budging on that issue and here is what he had to say on fox news sunday. >> congress will never give up the power and i made it clear to the president that when we get to the debt limit we need to cut some reforms that are greater than the increase in the debt limit. it is the only way to leverage the political process to produce more change than if left alone. >>gregg: you can see more of the remarks on "fox news sunday" at the top of the hour. >> extreme weather on the west coast flood advisories in effect for storm ravaged parts of northern california as another storm bringing heavy rain and police and fire officials wanting the napa and russian rivers expected to break their banks. and now, streaming live from northern california. >>reporter: yes, the banks are about to break any moment now, 12 hours ago there was torrential rain it looked to b
obama under the white house proposal. the president would have the power to raise the debt limit on his own, whenever he wants, as needed. speaker boehner saying congress isn't budging on that issue and here is what he had to say on fox news sunday. >> congress will never give up the power and i made it clear to the president that when we get to the debt limit we need to cut some reforms that are greater than the increase in the debt limit. it is the only way to leverage the political...
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Nov 30, 2012
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meanwhile, the marriott ceo was one of the ceos in the room with president obama this week in the fiscal cliff meetings. many of the executives saying that the white house sounded resounding resoundingly reasonable when describing plans to address the debt and deficit. >> so was this proposal the white house made yesterday with more spending and very few spending cuts, was that what mr. sorenson was expecting out of the gate? he joins us on the telephone with his thoughts. good to have you with us. >> glad to be with you. >> when you were with the other ceos at the white house, does it jive with what we're hearing about that made mitch mcconnell laugh yesterday? are those two plans one in the same? >> well, i'm hopeful that what's happening in the media is posturing by both parties and doesn't reflect where either party thinks a deal will end up. i think what the president talked with us about on wednesday afternoon was much more a sense of where things ought to end up, and that was, i think, somewhat different than it sounds like what was proposed. >> so you didn't hear about the tax in
meanwhile, the marriott ceo was one of the ceos in the room with president obama this week in the fiscal cliff meetings. many of the executives saying that the white house sounded resounding resoundingly reasonable when describing plans to address the debt and deficit. >> so was this proposal the white house made yesterday with more spending and very few spending cuts, was that what mr. sorenson was expecting out of the gate? he joins us on the telephone with his thoughts. good to have...
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and house republicans had harsh words for president obama after he released a budget proposal suggesting more taxes, more spending. >> he wants the power to raise the debt ceiling without congressional approval and they cannot issue an edict like a monarchy, congress, congress, congress is in charge of the purse. the government has gone wild. >> dave: in that congressman's words has they become a monarchy, explaining from texas, congressman poe. >> good morning, dave. >> dave: how has this administration become like a monarchy? >> well, the president in his proposal basically said, turn everything over to me, give me the power or let me take the power to raise the debt ceiling, that seems to be quite arrogant on his part and if he's serious about it, they be what he's really saying is, i want to spend more money. that's how i want to solve the fiscal cliff problem, is spending more taxpayer money. so, the president doesn't have the authority to raise the debt ceiling, he shouldn't have the authority. congress, as you all mentioned earlier is in charge of the money, the purse in the unite
and house republicans had harsh words for president obama after he released a budget proposal suggesting more taxes, more spending. >> he wants the power to raise the debt ceiling without congressional approval and they cannot issue an edict like a monarchy, congress, congress, congress is in charge of the purse. the government has gone wild. >> dave: in that congressman's words has they become a monarchy, explaining from texas, congressman poe. >> good morning, dave. >>...
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with no concessions and this sort of outrageous request on the debt limit which was a really aggressive first offer. and then the republican s countered with a moderate reasonable plan exactly modeled after a proposal by erskine bowles. so if you're trying to handicap the negotiations, you'd have to concede that dana is on to something. >> really. so -- >> at least like the starting point. so basically the starting point for the republicans is what president obama probably would have viewed as a victory if they had the negotiation. >> yeah, he wanted another 400 supposed supposedly. how does simpson-bowles get to -- how does it raise revenue? what's the number that it raises? >> well, it depends because they have a bunch of different simpson-bowles plans. like in the bowles-simpson report, there are three different tax plans and then the thing that the republicans modeled after was something that bowles said in a hearing. >> it's interesting when you look at what these plans are laid out, yesterday tim geithner said the republicans have not told them how they plan on raising any of this
with no concessions and this sort of outrageous request on the debt limit which was a really aggressive first offer. and then the republican s countered with a moderate reasonable plan exactly modeled after a proposal by erskine bowles. so if you're trying to handicap the negotiations, you'd have to concede that dana is on to something. >> really. so -- >> at least like the starting point. so basically the starting point for the republicans is what president obama probably would...
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Dec 3, 2012
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you saw the debt ceiling debate that went on last year and there were all these meetings between the white house and congressional leaders and didn't seem like they were working and doesn't work to president obama's advantage and the strategy is to go outside, get some pressure going. and they don't really want to have a meeting or else they lose the mojo and interesting what anna says and i think people are concerned because two weeks ago you have a kumbaya feeling and you're not feeling that now. but it's december 3rd. in the way these things work and we saw this in the payroll tax cut last year, the debt ceiling, the near-government shutdown last year f. you blink you kind of wait until the last minute to do it. >> when no one notices. >> reporter: yeah. i think in a couple of weeks that's when you maybe are really looking for more movement. >> we'll see. thank you so much for joining us this morning. >>> imagine if sea level rose by two feet. that could actually happen within our children's lifetimes. scientists say ice in antarctica is melting faster than expected. bill nye the
you saw the debt ceiling debate that went on last year and there were all these meetings between the white house and congressional leaders and didn't seem like they were working and doesn't work to president obama's advantage and the strategy is to go outside, get some pressure going. and they don't really want to have a meeting or else they lose the mojo and interesting what anna says and i think people are concerned because two weeks ago you have a kumbaya feeling and you're not feeling that...
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peter: we learned president obama and john boehner spoke for 15 minutes last night. i just bumped into a senior leader among senate democrats and asked him how he felt about this news and he said -- he was more optimistic about these negotiations today. he thought perhaps this man the speaker and the president were exchanging proposals on avoiding the fiscal cliff, john boehner has a press conference at 11:30 after his meeting with tim geithner. connell: we will speak with -- see what the speaker has to say. with all this back and forth, a decent amount of speculation that a deal is starting to take shape. look at the reporting from politico and they put numbers to its save a framework looks like this. taxes for revenue would rise by $1.2 trillion. families making them to $50,000 would see higher taxes which we have been expecting and entitlement programs would be cut by $400 billion, most coming for medicare and, quote, end of war savings peter barnes and others reported many times as being dubious because they counted the previous budget you have another trillion p
peter: we learned president obama and john boehner spoke for 15 minutes last night. i just bumped into a senior leader among senate democrats and asked him how he felt about this news and he said -- he was more optimistic about these negotiations today. he thought perhaps this man the speaker and the president were exchanging proposals on avoiding the fiscal cliff, john boehner has a press conference at 11:30 after his meeting with tim geithner. connell: we will speak with -- see what the...
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>> what the white house learned during the first term is that there are some things that work for obama and some things that don't. sitting down at a table with john boehner as essentially equals did not turn out as well as they might have hoped with the debt ceiling talks in 2011. but what did work was that winter when the president went to the country and argued for extending the payroll tax holiday and developed pressure outside of washington, he was a lot more successful. so they have two goals here. one is to keep the pressure coming from outside the beltway and the second is to make sure that this is not a negotiation between the president and boehner, that they want the president essentially floating above this. >> robert, when we talk and i know you had a chance to hear what congresswoman black will to say about trying to find the right balance here, while a majority of americans, say they go completely support raising taxes on wealthier americans, there is also a majority support that says we don't want to see earned benefits messed with, we don't want to see the medicare eligi
>> what the white house learned during the first term is that there are some things that work for obama and some things that don't. sitting down at a table with john boehner as essentially equals did not turn out as well as they might have hoped with the debt ceiling talks in 2011. but what did work was that winter when the president went to the country and argued for extending the payroll tax holiday and developed pressure outside of washington, he was a lot more successful. so they have...
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they want these to be about boehner and obama. last time it happened was the 2011 debt ceiling negotiations and that didn't really turn out so well. >> why would that be their aim? >> they want to make this about the president and boehner. and they think they can get a better deal that way. the pro who white house strategy is to have this happen at the staff level and the president float above it and go out and make his case to the country. as he did later in 2011 on the extension of the payroll tax holiday. they really feel that the more they have, the president sort of down on boehner's level, the worse things are going to go. >> anna marie, i want to get your take on something that democratic senator claire mccaskill said on "meet the press," about the choice that republicans face. take a listen. >> they're going to get stuck with a raising of the rates of the top 2%. either in a very painful way. or in a way that we can all suffer a little bit. address all three legs of the stool. entitlements, cuts, and revenues, in a way tha
they want these to be about boehner and obama. last time it happened was the 2011 debt ceiling negotiations and that didn't really turn out so well. >> why would that be their aim? >> they want to make this about the president and boehner. and they think they can get a better deal that way. the pro who white house strategy is to have this happen at the staff level and the president float above it and go out and make his case to the country. as he did later in 2011 on the extension...
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. >>> president obama's going to speak to the business round table today about the ongoing fiscal cliff talks. boeing ceo jim mcnearney says members want a balanced solution in debt issues, including meaningful and comprehensive tax and entitlement reforms. well, you're not going to get that. anyway -- sorry, jim. we're going to be watching facebook stock today. the company will join the nasdaq -- got to watch it. i'm trying to rise. trying. the nasdaq 100 -- >> sinking, sinking -- >> like a snake. replaces tech firm emphasis, which is moving the listing to the big board. and let's get a check on the markets which are indicated higher today up about 50 points. overseas, let's check out asia and europe. there's a -- .4%. >> had a big move. >> yeah. big move on the hang seng and green arrows everywhere. let's check out europe quickly. also fractional gains there, up about a third of a point each. >>> steny hoyer is striking a conciliatory tone saying both sides will need to bend to avoid the fiscal cliff. congressman hoyer joins us from washington with more this morning, and sir, it's gre
. >>> president obama's going to speak to the business round table today about the ongoing fiscal cliff talks. boeing ceo jim mcnearney says members want a balanced solution in debt issues, including meaningful and comprehensive tax and entitlement reforms. well, you're not going to get that. anyway -- sorry, jim. we're going to be watching facebook stock today. the company will join the nasdaq -- got to watch it. i'm trying to rise. trying. the nasdaq 100 -- >> sinking, sinking...
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meantime, president obama is giving a stern warning to republicans who may be trying to use the debt ceiling as leverage. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which by the way we have never done in our history until we did it last year, i will not play that game. >> we should say that the president and house speaker john boehner did speak by phone yesterday. that was the first time in a week. no one is saying what the conversation was about. shortly after that call treasury secretary tim geithner went on cnbc and said the white house is ready to go off the cliff. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. it's only 2%. >> i want to bring in "usa today" bureau chief and welcome to both of you. where are we in these negotiations, susan? >> i think the most encouragin
meantime, president obama is giving a stern warning to republicans who may be trying to use the debt ceiling as leverage. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which by the way we have never done in our history until we did it last year, i will not play that game. >> we should say that the president and house speaker john boehner did speak by...
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president obama's first offer fiscal cliff, higher taxes, new spending and power over the debt spending. and offered by tim geithner who had tax problems in the past and today president obama is it at a toy factory campaigning for new taxes on the rich. and joining us is julia. >> hi. stuart: how are you. >> i'm great. stuart: i can't believe that you, as a regular american, want to do this to america, do you? >> i think it's because-- i don't think that this is exactly what what's going to happen. stuart: you don't think that the president will actually do this. >> no, no, i think the president has learned to negotiate. what the president would do, he would start with sort of half a loaf and negotiate and give the republicans about 75% of what they wanted. i think he's finally understood if you want to actually get to at least halfway, you have to start at extremes and meet halfway. republicans have done this all along. stuart: you agree with me, if this plan, anything like it from the president, were imposed on the economy at this time it would lead to recession. >> i think that the p
president obama's first offer fiscal cliff, higher taxes, new spending and power over the debt spending. and offered by tim geithner who had tax problems in the past and today president obama is it at a toy factory campaigning for new taxes on the rich. and joining us is julia. >> hi. stuart: how are you. >> i'm great. stuart: i can't believe that you, as a regular american, want to do this to america, do you? >> i think it's because-- i don't think that this is exactly what...
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and you're going to look back and have a bar chart of deficits and debt. and there's not going to be an asterisk that says it was the republicans' fault. i think we've got to stop playing poker, work together and understand we're working to save the country. >> that might be the long game. the asterisk in history books later. right? the short gain is raising taxes. that really is what everything is focused on right now. and i think, nan, it's fair to say that could be a big problem for republicans. all polls indicate that it's going to be the republicans that hold the bag if you end up not raises taxes on people who are perceived to be very wealthy who could afford it. >> well, there is the -- there are the atmospherics and then there are the economic realities. of course, if you look at a lot of the polling surrounding the election and post election exit polling show that, in fact, president obama was elected primarily because people felt that he was compassionate, that he cares about them. and that's an important quality. but, in fact, they endorsed the
and you're going to look back and have a bar chart of deficits and debt. and there's not going to be an asterisk that says it was the republicans' fault. i think we've got to stop playing poker, work together and understand we're working to save the country. >> that might be the long game. the asterisk in history books later. right? the short gain is raising taxes. that really is what everything is focused on right now. and i think, nan, it's fair to say that could be a big problem for...
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the obama team wants to raise tax now, promises of entitlement reform later and ignore the debt. that's the fiscal cliff deal of the day and the market likes it and the numbers are 5, 16, 22, 23, 29, and the powerball is 6. you lost. the government won. "varney & company" is about to begin. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, . . >> . stuart: it's a modern day tea party. it's a revolt led by corporations. the wall street journal reports 173 companies announced they'll pay special dividends for shareholders before the end of the year because a big tax increase on dividends could be coming next year and many companies moving up regular dividends to save their taxpayers, to save taxpayers a lot of money. start with disney. it's raising its dividend and paying it out on december 28th. that's 1.3 billion dollars paid out in total, paid out under the current tax rate. and las vegas sands paying a special dividend, that's a one on shot
the obama team wants to raise tax now, promises of entitlement reform later and ignore the debt. that's the fiscal cliff deal of the day and the market likes it and the numbers are 5, 16, 22, 23, 29, and the powerball is 6. you lost. the government won. "varney & company" is about to begin. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, . ....
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the truth is our national debt began to skyrocket under george bush with medicare part d fiasco. year under year under george w. bush, deficit came in at $500 billion. it is finally year of 2007-2008 president obama inherited the mess of trillion dollar annual deficits but none of this has been caused by medicare or medicaid. >> obviously entitlements. those lazy 47 percenters. >> stephanie: maria and david gregory should know better. >> yeah, they do. they're both major news anchors of major news networks. >> they're paying them lots of money to say lies. >> stephanie: the real culprits are the lack of revenue caused by the tax cuts. oh, he sent a helpful pie chart as well. >> we love pie charts. >> we love pie. >> stephanie: i love pie charts and graphs. the military security -- >> pie charts ala mode. >> stephanie: responsible for more than half the remaining spending or the $1.3 trillion. if david gregory would correct guests, american public would know what the main drivers are. >> who would be infected by the top increase? i'm guessing dade gregory and maria bartolome mow.
the truth is our national debt began to skyrocket under george bush with medicare part d fiasco. year under year under george w. bush, deficit came in at $500 billion. it is finally year of 2007-2008 president obama inherited the mess of trillion dollar annual deficits but none of this has been caused by medicare or medicaid. >> obviously entitlements. those lazy 47 percenters. >> stephanie: maria and david gregory should know better. >> yeah, they do. they're both major news...
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yesterday at a business roundtable of ceos, president obama took a hard line, warning his opponents not to consider this strategy. >> if congress in any way suggests that they're going to tie negotiations to dell creting votes and take us to the brink of default once again as part of a budget negotiation, which, by the way, we have never done in our history until we did it last year, i will not play that game. >> well, i wonder, the president's saying, steve, that, you know what, we can raise rates now and maybe lower them later next year so republicans are now saying we can raise rates now. maybe we'll lower them later and we'll talk about it during the debt ceiling. now he's saying no, we're not going to talk about it then either. when would we have this debate when we were renaming post offices in july? can you clarify something for people that are watching? republicans are talking about raising taxes on the rich. and john boehner said that yesterday. we're talking about raising taxes on the rich. we're just not talking about raising the top marginal rate, right? i mean, both sides a
yesterday at a business roundtable of ceos, president obama took a hard line, warning his opponents not to consider this strategy. >> if congress in any way suggests that they're going to tie negotiations to dell creting votes and take us to the brink of default once again as part of a budget negotiation, which, by the way, we have never done in our history until we did it last year, i will not play that game. >> well, i wonder, the president's saying, steve, that, you know what, we...
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>>> president obama makes his opening bid in the debt negotiations -- >> last call. 1,200. >> -- but republicans are not buying. >> would the gentleman please cooperate. >> what will it take to bring the two sides together to avoid the fiscal cliff? judd gregg and ed rendell will join us the co-chairs of the fix the debt campaign. >> venture capital fund behind clout. third hour of "squawk box" will begin right now. ♪ ♪ i have never seen anyone looking so fine ♪ >>> welcome back to "squawk box" here on cnbc. first in business worldwide. i'm joe kernan along with becky quick and steve liesman. andrew ross sorkin is being waited on right now by staff somewhere in a third world country. guest host this morning, 1 percenters do when on vacation. our guest this morning, even at ceo has not been treated -- served like this, i don't think. larry, former chairman and ceo of honeywell and cnbc contributor. more from larry in just a minute. steve has your headlines. did you hear about this place? >> i didn't hear about it. i really want to know. you vice president told me in the break an
>>> president obama makes his opening bid in the debt negotiations -- >> last call. 1,200. >> -- but republicans are not buying. >> would the gentleman please cooperate. >> what will it take to bring the two sides together to avoid the fiscal cliff? judd gregg and ed rendell will join us the co-chairs of the fix the debt campaign. >> venture capital fund behind clout. third hour of "squawk box" will begin right now. ♪ ♪ i have never seen...
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president obama has nearly doubled the debt. the spending is out of control. and it's -- we have this economy that continues to struggle -- >> the debt ceiling -- >> the debt ceiling is our opportunity to really look at these questions, but the republicans want to negotiate -- speaker boehner the day after the election, went to the podium and put tax revenue on the table. this is our moment, this is our -- tip o'neill and president reagan back in the early '80s, they came together. they negotiated to save social security as well as address the spending. and it was a $3 in spending cuts to every dollar in new revenue. and that's the type of approach we need today. >> they never used the issue of debt ceiling in those negotiations. that's relatively new. the president says, i will not play that game. he may have no choice, because the republicans have a decisive majority in the house of representatives. if they want to play that game, he's going to have to do it. >> whey believe the president is saying is, we could get to a big deal, a good big deal that's balan
president obama has nearly doubled the debt. the spending is out of control. and it's -- we have this economy that continues to struggle -- >> the debt ceiling -- >> the debt ceiling is our opportunity to really look at these questions, but the republicans want to negotiate -- speaker boehner the day after the election, went to the podium and put tax revenue on the table. this is our moment, this is our -- tip o'neill and president reagan back in the early '80s, they came together....
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reduce our national deficit and nothing to reduce our national debt. the white house and democrats in the senate are focused only on tax hikes while they continue ignoring the real drivers of our debt, which is the out-of-control entitlement programs -- social security, medicare, and medicaid. until we find a way to do meaningful entitlement reform, no amount of tax revenue will be able to match the increase in violate spending. -- in entitlement spending. the president continues in his campaign mode going around the country to try to sell his tax hikes. the president and the democrats in congress are willing to go over the fiscal cliff in order to get those tax hikes. rather than negotiate in good faith, they're willing to try to spend their time trying to convince the american people that it's just someone else's fault. going over the fiscal cliff will mean another recession, and this one is squarely on the shoulders of president obama. it will mean unemployment spiking back up over 9%. it will also mean a whole host tax increases, even beyond the hi
reduce our national deficit and nothing to reduce our national debt. the white house and democrats in the senate are focused only on tax hikes while they continue ignoring the real drivers of our debt, which is the out-of-control entitlement programs -- social security, medicare, and medicaid. until we find a way to do meaningful entitlement reform, no amount of tax revenue will be able to match the increase in violate spending. -- in entitlement spending. the president continues in his...
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this is clearly a different president obama than the one we saw during the debt ceiling negotiations or even after the midterm elections in 2010 when he felt a little weakened and there was the extension of those bush tax cuts for the wealthy. so i think when you're seeing here is a president who put this on the table, trying to please his base, okay? which got him elected after all. saying, this is my wish list, this is in a perfect world, this is what i would do. i don't think anyone at the white house expected the republicans to say, oh, thank you mr. president, yes, this looks lovely. let's go on and work on a deal. no, that's not what it was. the white house -- this is alfonse gaston a little bit here. and so they're waiting for the republican response. and what they're really talking about, brooke, is getting some kind of a first step. a down payment. ironically they all know what -- in the big picture needs to be done. they know you have to fix entitlements, do something on the tax side, but they're trying to figure out how to get from here to there. >> and let's just stop the
this is clearly a different president obama than the one we saw during the debt ceiling negotiations or even after the midterm elections in 2010 when he felt a little weakened and there was the extension of those bush tax cuts for the wealthy. so i think when you're seeing here is a president who put this on the table, trying to please his base, okay? which got him elected after all. saying, this is my wish list, this is in a perfect world, this is what i would do. i don't think anyone at the...
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that is with the president's health care plans, with obama care, does that change the debt to gdp in terms of taxes going up? >> it makes it worse. >> it's already going up. >> the affordable care act expanded cover an to 36 million people. it did not do enough to control costs. there are positive aspects of it, but according to the chief actuary of medicare, it's estimated to cost $12 trillion more in discount of present value dollars today than the politicians claim. we have not come nearly close enough to rationalizing our health care promises and focus on paying based on outcomes rather than activities. we're going to have to go back to health care again. and one of the biggest challenges, it's totally inadequate with regard to health care. and if you don't solve the health care problem, you don't solve the problem. >>> first, it's the season for pizza, the hustle and bustle of the holidays means more business for dominoes and that means more jobs. your local domino sess expected to hire a few extra people this year. that can mean 5 to 25,000 jobs spread out over 4,500 stores in
that is with the president's health care plans, with obama care, does that change the debt to gdp in terms of taxes going up? >> it makes it worse. >> it's already going up. >> the affordable care act expanded cover an to 36 million people. it did not do enough to control costs. there are positive aspects of it, but according to the chief actuary of medicare, it's estimated to cost $12 trillion more in discount of present value dollars today than the politicians claim. we have...
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. $50 billion in stimulus spending and allowing the president to raise the debt limit making it tougher for congress to stop it. one gop congressman called that "wizard of oz-crazy," but many congressional democrats spent the first obama term frustrated with the president for not standing up to republicans enough. now democratic leaders are elated. >> elections have consequences. the president campaigned, he made it very clear -- he made it very clear that he was supporting a tax cut for the middle class, that he wanted the expiration of the tax cuts for the high end. >> reporter: and at the end of the day, joe, that is still the most significant, the biggest stumbling block on the road to the fiscal cliff, that difference between tax rates for the wealthiest americans. and what house democrats announced they're going to try to do is an end run around the house gop to try to file a petition in order to try to push a vote on the house floor to just raise taxes -- excuse me, to just extend the bush-era tax rates for middle class americans. but to do that, as you know, they need 218 votes
. $50 billion in stimulus spending and allowing the president to raise the debt limit making it tougher for congress to stop it. one gop congressman called that "wizard of oz-crazy," but many congressional democrats spent the first obama term frustrated with the president for not standing up to republicans enough. now democratic leaders are elated. >> elections have consequences. the president campaigned, he made it very clear -- he made it very clear that he was supporting a...
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>> how will he pass the massive obama tax cut without the house? >> i'm assuming they'd want to have a big tax cut, right? >> no. >> they would sit on their hands post-january 1st and say nothing? >> do you think republicans are so stupid in the house they don't see that move coming and say, you know what? you go ahead and you try to pass your tax cut through harry reid's senate, and we'll pass our tax cut through the house. and good luck. >> so they would just rather have everyone's tax -- i'm shock that that would be the end result. >> harry reid would rather have it his way or nobody's way? >> no, i'm saying you can negotiate in these flex three weeks about this package of tax cuts. >> i don't mean this to be directed towards you -- >> but here it comes. >> -- no, i'm just saying generally, there is such an arrogance in the media since the president won. they think that these house republicans are -- >> have nothing to say. >> -- have absolutely nothing to say. >> i do agree with that. or nothing of value. >> they act as if they were elected by
>> how will he pass the massive obama tax cut without the house? >> i'm assuming they'd want to have a big tax cut, right? >> no. >> they would sit on their hands post-january 1st and say nothing? >> do you think republicans are so stupid in the house they don't see that move coming and say, you know what? you go ahead and you try to pass your tax cut through harry reid's senate, and we'll pass our tax cut through the house. and good luck. >> so they would...
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the year on reducing the national debt to avoid that fiscal cliff. republican aid describe the tentative white house proposal this way. $1.6 trillion in revenue presented by secretary treasury secretary timothy geithner and stimulus and $400 billion in medicare and other entitlement savings. a permanent increase in the debt limit. >> so, let's get more on the standoff right now. joining us senator bernie sanders of vermont. he caucuses with the democrats. senator, first of all, congratulations on your re-election. thanks for coming in. republicans say, you know what, they'll be flexible, but the democrats have to be flexible, too, especially when it comes to entitlement spending. medicare, medicaid and even reform. are you open to any of that? >> when republicans talk about being flexible, we have not heard one definitive word to what they mean. second of all, our republican friends look up and understand that this issue of the fiscal cliff was debated during the election and, you know what, mitt romney lost. obama won. the american people are very c
the year on reducing the national debt to avoid that fiscal cliff. republican aid describe the tentative white house proposal this way. $1.6 trillion in revenue presented by secretary treasury secretary timothy geithner and stimulus and $400 billion in medicare and other entitlement savings. a permanent increase in the debt limit. >> so, let's get more on the standoff right now. joining us senator bernie sanders of vermont. he caucuses with the democrats. senator, first of all,...